France's Faurecia to create 700 new jobs in Slovakia
French car parts maker Faurecia said Monday it would build a new plant with an investment of 8.0 million euros ($11.4 million) in Slovakia and employ 700 people in it.
"The new plant, based in Kosice, eastern Slovakia, where Faurecia already employs 330 people, will launch production in summer 2011," the company said in a press release.
The plant will produce interior components for car makers including Slovak plants run by Germany's Volkswagen and France's PSA Peugeot Citroen, it added.
Faurecia already has six plants employing 1,100 people in Slovakia.
The company has asked the economy ministry for support on the investment aimed at one of the regions with the highest unemployment rates in the country, the ministry said without specifying the requested amount.
The production of cars and components is now the main driver of the former communist economy which grew 4.0 percent in 2010 after its first-ever contraction in 2009 of 4.8 percent caused by the global economic slump.
© 2011 AFP